The affirmation comes after Ghosn was indicted and arrested in Japan on accusations of spending company money for personal use and underreporting his income from Nissan, an alliance partner where he also served as chairman an CEO.

Renault’s board said in a press release that a full review of Ghosn’s compensation from 2015 to 2018 had found “he compensation of the Chairman and Chief Executive Officer of Renault and the conditions under which such compensation was approved were in compliance with applicable law as well as the recommendations of the AFEP-MEDEF.”

However, the board added it “does not have information concerning Carlos Ghosn’s defence.”